Second Hand Books Market Segmented By Adults and Kids in Mass/Economy, Premium Second Hand Books of Action & Adventure, Art, Music, Film and Photography, Academic Books, Biographies & Comics, Crafts, Home & Lifestyle and Many more
Industry: Consumer Goods
Published Date: July-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP32265
The global second hand books market is projected to expand at 6.6% CAGR and reach a valuation of US$ 48.49 billion by the end of 2033, up from its market size of US$ 25.59 billion in 2023.
Books that have been previously claimed by someone other than the distributor or retailer are referred to as second-hand books. Purchasing used books is a smart move that reduces resource waste in general. Nowadays, customers have the option to purchase used books online, making the process of finding them more convenient and lowering the cost of the search. Additionally, clients have the option to rent books rather than buy them, which will support the expansion of the used book industry in the near future.
Growing numbers of readers and their interest in non-fiction, self-help, religious, and educational literature are driving up demand for used books on the international market. As technology develops, many market players are providing online and digital books to entice book enthusiasts around the world. Along with rising living standards and more disposable income, there is an increase in consumer demand for high-caliber used books. Governments and public institutions are pushing initiatives to broaden user access to reading and research materials by making content like books and journal articles widely available.
| Attributes | Key Insights |
|---|---|
|
Global Market Size (2023E) |
US$ 25.59 Billion |
|
Projected Sales of Second Hand Books (2033F) |
US$ 48.49 Billion |
|
Market CAGR (2023 to 2033) |
6.6% |
|
Market Share of Top 5 Second Hand Books Market Players |
20% to 25% |
Between 2018 and 2022, demand for second-hand books throughout the world increased at a CAGR of 5.0%, with the United Kingdom, France, and Germany holding significant shares in the market.
The second hand book market is anticipated to grow as a result increase in consumer spending, digital media contact, and demand for popular publications. Globally, the market for audiobooks is expanding more quickly than that for e-books. A number of well-known audiobook distributors, including Audible, Storyteller, and Google are increasingly entering the global market.
Additionally, as books are the primary requirement for studying, low-income families are forced to buy second hand books, and the rise in demand for fairly priced used books is allowing these families to raise their quality of living through education. Over the next ten years, global sales of second hand books is anticipated to increase at a 6.6% CAGR.
“Customers are drawn to Second Hand Books Because of Rising Demand of Personal Library and Reasonable Pricing”
Purchasing second hand books is an affordable option when compared to the cost of new books, especially for students studying for competitive exams. As second hand books are inexpensive and environmentally beneficial, consumers have infinite number of options while choosing from used books and an unlimited choice of new genre novels. This is because these
Additionally, there is a rising demand for personal library throughout the globe which is driving the growth of the target market. Consumers are easily able to gather a variety of books, including those by featured authors, academic books, non-fiction, and fiction.
“North America to Lead the Sales through 2033”
Second hand book demand analysis for regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East, and Africa (MEA) has been assessed in this research by Persistence Market Research.
The North America second hand books market accounts for a major market share of 27.8% in the global industry landscape in 2022. This region is expected to maintain its dominant stance over the forecast period, and market growth can be attributed to increasing number of readers and the high literacy of the general population. 2nd-hand manga comics, second hand medical books, second hand children’s books, and other preowned books are anticipated to be highly popular in this region.
Increasing interest in reading activities and high presence of a literate population will be major factors driving demand for second hand books in the European region. Currently, the second hand books market in this region holds a significant market share of 25.1% in the global landscape. Rising focus on education in developing economies is expected to be a major trend in the regions of East Asia and South Asia. India and China are expected to be prominent markets owing to an increase in literacy.
Sales of second hand medical books, second hand engineering books, and second hand nursing books are expected to perform well in these regions as the spending potential is lower for the education sector. At present, East Asia and South Asia hold market shares of 16.3% and 15.0%, respectively, in the global second hand books sector.
Why is the United Kingdom a Huge Market for Second-Hand Books?
“Rising Popularity of Second Hand Books Stores in United Kingdom”
The popularity of second hand books store in United Kingdom has been rising at a rapid rate, both in terms of the number of books donated and the number of books sold. The ambience of the second hand books stores also helps to attract the reading enthusiasts. These stores are also introducing novel ways for reaching large number of cosnumers to increase the sales. Moreover, the United Kingdom second hand books market is projected to rise at a CAGR of 7.1% during the forecast period.
Which Pre-owned Books Have High Demand in India?
“Increasing Literacy Rate to Drive Demand for 2nd Hand Text Books”
India has seen a substantial increase in the demand for pre-owned text books owing to increasing literacy in the nation and rising focus on education. The India second hand books market is projected to rise at a CAGR of 5.4% over the decade. In 2022, pre-owned book shipments in India accounted for 31.1% of the global second hand books market value. Consumption of second hand medical books and second hand engineering books is also expected to see a hike over the forecast period as the focus on education bolsters in the nation.
Why Should Second Hand Book Vendors Focus on the U.S.?
“High Presence of Literate Population Offers Lucrative Opportunities to Second Hand Book Suppliers”
Demand for second hand books is projected to rise at a CAGR of 2.4% over the forecast period in the U.S. Market growth in this nation can be attributed to the presence of key second hand book providers such as Amazon, eBay etc., and rising popularity of the reading trend Pre-owned fantasy books and pre-owned fiction books accounted for the largest sales volume in 2022, and are expected to see a rise in popularity over the forecast years as well.
Which End User Accounts for the Highest Global Sales of Second Hand Books Market?
“Second Hand Books are Popular Among Millennials”
The digitally connected millennial age, which uses several social media platforms such as TikTok to revive retro fashions and discuss their favourite books, is bringing back book sales. Additionally, the adults segment is anticipated to dominate the global market and hold a major market share over the forecast period. In 2022, the segment held a share of ~63% of the global industry. Moreover, the market share of kids’ second hand books is anticipated to rise at a CAGR of 7.3% over the coming years and is estimated to hold a market share of approximately 41.6% by 2033.
Which Types of Second Hand Books Exhibit Most Sales?
“Fantasy, Horror and Science Fiction Books are the Most Popular Choice Among Consumers.”
Fantasy, horror, and science fiction books contributed a dominant share of 17.3% of the global market in 2022. Many of these books have developed dedicated fan bases over the years. These genres have passionate readers who are often eager to collect and explore different titles within their preferred genre. As a result, there is a higher demand for second-hand books in these genres, leading to their dominance in the market.
Some fantasy, horror, and science fiction books have limited print runs, especially those from niche publishers or early editions of popular series. Limited availability can create a sense of exclusivity and collectability, making these books highly sought after by collectors and enthusiasts. Consequently, these genres dominate the second-hand market due to the rarity and collectible nature of certain editions.
Which Sales Channel is Expected to Dominate the Second Hand Book Market Globally?
“Online Retailers Segment is Expected to Dominate the Global Market in Coming Years”
Online retailers have a global reach, allowing them to cater to a larger customer base compared to physical bookstores. They can sell books to customers in different regions without the constraints of geographical boundaries. Moreover, online retailers have a vast inventory of second-hand books, offering a wide variety of titles and editions. This allows customers to find rare or out-of-print books that may not be easily available in physical stores. The extensive selection attracts book enthusiasts and collectors to online platforms. The online retailers segment is estimated to grow at a CAGR of 10.6% during the forecast period.
Globally, producers of used books are putting various plans into practise in order to expand regionally and boost sales. Instead of building lasting relationships with their current consumers through efforts like working with charity stores. Some businesses are concentrating on growing their market share and increasing their sales by attracting new clients by enhancing their inventory.
For instance:
| Attribute | Details |
|---|---|
|
Forecast Period |
2023 to 2033 |
|
Historical Data Available for |
2018 to 2022 |
|
Market Analysis |
|
|
Key Regions Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled |
|
|
Report Coverage |
|
|
Pricing |
Available upon Request |
By Book Type:
By Price Range:
By End User:
By Sales Channel:
By Region:
To know more about delivery timeline for this report Contact Sales
The Global second hand books market is forecasted to expand at 6.6% CAGR through 2033.
The market for second hand books in Global reached a valuation of US$ 48.49 billion at the end of 2023.
Some of the leading providers of second hand books are EBay Inc., MyBookStore.Com, Powells Book, BookMooch, BookChor Literary Solutions Private Limited, Crossword Bookstores Ltd., Skyo, Bookadda.Com, and BookMafiya Study.
